For Sale

Photo of 500 W Glenwood Avenue, Wildwood NJ
500 W Glenwood Avenue
Wildwood, NJ 08260
# of Units
3
2 Bdrm Units
1
3 Bdrm Units
2
Acres
0.11
Interior Sq Ft
3,828
Age
63
Heating
Electric
Cooling
Window Unit(s)
Water
Public
Sewer
Public
Garages
0
Taxes (2022)
7,581
Additional Details Below

Description

Turn Key Investment Property. Bay views with very safe and stable island community in exclusive West Wildwood. Three Unit (Triplex) Residential Building in Town Commercial Zone of West Wildwood just over the bridge from Wildwood. 8 bedrooms, 4 bathrooms, 3 kitchens, 3 living rooms, 2 dining rooms. Flooring <3 years old, ceiling fans, washer/dryer in every unit, hot water heaters (new, 3 and 4 years old), new front siding, new windows in majority of home. Excellent long term year round tenants with the following number of years rented: Unit A - 6 years, Unit B - 3 years, Unit C - 13 years. All planning to sign multiyear lease extensions. Home has been meticulously maintained and major renovation of entire 2nd floor Unit B in 2019, minor renovations of other units 2019-2022, Flat roof replacement in 2021 and several other improvements since taking ownership in 2019. A home inspection was conducted by highly reputable home inspector and majority of major, marginal and minor defects have been or will be addressed prior to closing. Net Operating Income calculations will be provided to serious buyers. Gross annual rental income is $49,500 that should grow to $53,000 at the end of 2023.

Location

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Listing Details for 500 W Glenwood Avenue

Summary
Architectural Type

Colonial, Traditional

Interior Features
Basement

Block, Crawl Space

Interior Features

Attic, Carpet, Ceiling Fan(s), Dining Area, Floor Plan - Traditional, Recessed Lighting, Tub Shower, Upgraded Countertops, Walk-in Closet(s), Wood Floors

Appliances

Built-In Microwave, Cooktop, Dishwasher, Dryer - Electric, Freezer, Oven - Single, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Stove, Washer, Water Heater

Exterior Features
Exterior Features

Combination, Frame, Vinyl Siding

Utilities
Cooling

Window Unit(s), Electric

Heating

Baseboard - Electric, Electric

Hot Water

Electric

Sewer

Public Sewer

Water

Public

Additional Utilities

Electric Available, Cable TV Available, Sewer Available, Water Available

Assessment : 0
Zoning Designation T-C
Lattitude : 38.997250
Longitude : -74.818830
MLS Number : NJCM2001330
Listing Courtesy:
Views : 39

Notes

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